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Today, in our ongoing series about local real estate markets, we’ll take a look at home sales and trends in the Indiana real estate market.
Starting in Indianapolis and Central Indiana – home sales jumped in March, while home prices were basically stagnant. IndyStar.com reports:
Home sales jumped 20.4 percent over March of last year, to 2,334, in the 13-county area, the Metropolitan Indiana Board of Realtors said today. It marks the third month this year with salesincreases of over 20 percent compared with the same year-ago periods… The median price of homes that sold last month rose by 1 percent, to $126,059, over the same period a year ago. The number of homes actively listed for sale at the end of March fell 17 percent, to 12,333, from a year ago.
Home sales are up in Northwest Indiana, too, but agai prices were basically flat in March, as the Post-Tribune reports:
In the five county region, 741 single-family homes were sold, compared to 601 in March 2012 — a 23.3 percent increase. Even the median selling price, which has fluctuated throughout the housing recovery, increased a bit — by 0.4 percent to $117,500. In Lake County, sales were up 21.3 percent and sales increased by 32.3 percent in Porter County. While in February, foreclosure rates in Lake, Porter, Jasper and Newton counties decreased by nearly a percentage point compared to the same month in 2012, according to the National Foreclosure Report released Friday by data and analytics company CoreLogic.
In the state overall, Indiana home sales jumped and home prices increased as well, but at a slower pace. Inside Indiana Business reports:
The Indiana Real Estate Markets Report today released by the state’s REALTORS shows that statewide, when comparing the first quarter of 2013 to the first quarter of 2012, the following occurred: the number of closed home sales increased 17.9 percent to 14,700, the median sale price of those homes increased 4.2 percent to $110,000, the average sale price increased 4.4 percent to $132,199, the percent or original list price received increased 1.1 percent to 90.1 percent, the number of pending home sales increased 11.4 percent to 17,082, annd the number of new listings decreased 5.4 percent to 27,749.